UPDATE: SNC-Lavalin Group Inc.
Siskinds LLP and its Québec affiliate, Siskinds Desmeules, have filed class actions in the Ontario Superior Court of Justice and the Québec Superior Court against SNC-Lavalin Group Inc. and certain of SNC’s current and former officers and directors.
A separate proceeding was commenced in Ontario by ROCHON | GENOVA LLP.
On June 29, 2012, the Ontario court approved the consolidation of the actions commenced by Siskinds LLP and ROCHON | GENOVA LLP, as well as the discontinuance of the actions against certain individual defendants. The Ontario court approved a notice with respect to the consolidation and discontinuance. You may view a copy of the notice here. Siskinds LLP and ROCHON | GENOVA LLP are co-counsel for the plaintiffs in the consolidated Ontario action.
The Ontario action is brought on behalf of all persons, wherever they may reside or be domiciled, who acquired securities of SNC from November 6, 2009 to February 27, 2012 inclusive (the “Class Period”), other than certain excluded persons associated with the defendants and any persons who are members of any class certified in the Québec proceeding.
The action alleges that disclosure documents issued by SNC during the Class Period contained misrepresentations relating to, among other things, the adequacy of SNC’s internal controls, the compliance of certain of SNC’s financial statements with generally accepted accounting principles, and the compliance of members of SNC’s management with the company’s Code of Ethics and Business Conduct. It is further alleged that the defendants’ misrepresentations caused the price of SNC’s securities to become inflated, and that the class members suffered damage when the truth was revealed to the investing public. The action claims $1 billion in damages.
If you acquired securities of SNC from November 6, 2009 to February 27, 2012 inclusive, please contact us at the toll-free number provided below. Your information will be held in strict confidence. By completing the form, you are not retaining Siskinds LLP, ROCHON | GENOVA LLP or Siskinds Desmeules, nor do you incur any obligations in connection with this lawsuit.
Any inquiries relating to the Ontario proceeding may be directed to Tricia Mohan of ROCHON | GENOVA LLP. Ms. Mohan can be contacted by telephone (toll free) at 1-800-462-3864 or by email by clicking here.
Any inquiries relating to the Québec proceeding may be directed to Simon Hébert of Siskinds Desmeules. Me. Hébert may be reached at 418-694-2009 or by email at [email protected].